News for hackers. Stuff that matters.
Re:Bitcoin Falls Below $20k for the First Time Since 2020 by agilob on Saturday June 18, 2022 @05:02AM (#31788333)
People here cheer for fall of Bitcoin and end of cryto not seeing that GOOG dropped from 2999.05 to 2157 and both charts look pretty much the same?
Re:Bitcoin Falls Below $20k for the First Time Since 2020 by 111111101101 on Saturday June 18, 2022 @06:24AM (#31788659)
It's sour grapes. I first heard of bitcoin in a HN post 11 or so years ago and I'm still kicking myself for not mining a few thousand then. "Nice idea but it wont succeed" were my thoughts...
Re:Bitcoin Falls Below $20k for the First Time Since 2020 by scoofy on Saturday June 18, 2022 @04:34PM (#31793576)
My only solace is that I was into Dogecoin, and did mine/acquire about 30 or so.

At it's peak, annoyed, I tried to find my old computer with my wallet. I gave it an honest try, but then looked up the amount the doge was worth. Somewhere around $20 at it's peak. I would have really been bummed if it'd been worth anything.

Re:Bitcoin Falls Below $20k for the First Time Since 2020 by sentirism on Saturday June 18, 2022 @08:47AM (#31789349)
GOOG had 22% revenue growth up to 68 billion dollars last quarter. Not being able to see the difference between GOOG and crypto pretty much sums up the sophistication of crypto investors.
Re:Bitcoin Falls Below $20k for the First Time Since 2020 by koonsolo on Saturday June 18, 2022 @09:58AM (#31789879)
The original comment is still valid: why is the drop in Bitcoin on the top page of HN, and the drop of GOOG not?
Re:Bitcoin Falls Below $20k for the First Time Since 2020 by effingwewt on Saturday June 18, 2022 @01:20PM (#31791838)
Probably because so many have been watching this closely. It's a very polarizing issue.

I hadn't realized google was falling hard, that's great news to me, and I wish it had been on the front page.

Could be google hiding from bad press here as they are wont to do.

Re:Bitcoin Falls Below $20k for the First Time Since 2020 by rvz on Saturday June 18, 2022 @05:40AM (#31788502)
There you go. In the last 6 - 7 months the SNP 500 is down from its ATH, taking all the other stocks with it and especially even those at Netflix or holding NFLX stock. They have been awfully quiet ever since.

The market needs a wipe out of the speculators, VCs, scammers and retail investors to drain out the billions of dumb money to cause these prices to go down again to around November 2020. This is why once Tether collapses, we will see Bitcoin at $10K again, lower than we have seen since March 2020.

As for the stock market, It isn't done and can still drop further as soon as the Fed increases rates again in July and the layoffs will accelerate when the VCs continue to deny more funding for the vast majority of useless unprofitable startups that will also be wiped out.

Either way, Just like 90% of startups fail. 90% of these cryptocurrency / blockchain projects won't survive this bear market or even the first foot of regulations. The remaining 10% will continue to survive once again.

Re:Bitcoin Falls Below $20k for the First Time Since 2020 by cmrdporcupine on Saturday June 18, 2022 @07:34AM (#31788941)
GOOG has not dropped 45% in a year.

(Not that I care much, I sold all my GSUs after I quit in January, and lucked out and hit it at its peak)

Re:Bitcoin Falls Below $20k for the First Time Since 2020 by quickthrowman on Saturday June 18, 2022 @08:59AM (#31789440)
Google made $72B in profits on $257B sales in 2021.[0] What was BTC’s earnings for 2021?

[0] https://abc.xyz/investor/static/pdf/2021Q4_alphabet_earnings...

Re:Bitcoin Falls Below $20k for the First Time Since 2020 by layer8 on Saturday June 18, 2022 @07:54AM (#31789063)
The fact that Bitcoin behaves like a stock is itself an argument against Bitcoin.
Re:Bitcoin Falls Below $20k for the First Time Since 2020 by IAmGraydon on Saturday June 18, 2022 @12:47PM (#31791528)
The theme is clear...liquidation of overpriced tech assets.